On Monday, the Federal issued a notice from the US Securities and Exchange commission (SEC). The Investment firm Direxion has postponed its bitcoin Exchange Traded Fund (ETF) application till September 21.
US Securities and Exchange Commission has said in the declaration.
“The Commission postponed time to consider in the proposal at the appropriate time under which to publish an injunction, the Commission accept or reject the proposal rule change so that it has enough time to deliberate this proposed rule change.”
Bitcoin prices are increased on Tuesday, while there is a mixed agreement that the possibility of moving ahead of EFT is promoting the market.
VanEck, another operator who failed to win in favor of launching a fund last year, addressed the SEC’s “concerns” about its potential product, arguing it fell within established legal frameworks.
VanEck plans to partner with rSolidX on a new offering, the two companies announced in June.